Greece – The Future of Foodservice to 2021

2017-08-30
Price :
Published : Aug-2017
No. of Pages : 115

Greece – The Future of Foodservice to 2021

Summary

Unemployment in Greece remains notoriously high, reaching 23.5% in 2016. Youth unemployment has remained above 40% since 2011, resulting in a ‘brain-drain’ of young, qualified Greeks seeking employment and higher standards of living elsewhere. Greece’s recovery also continues to be hindered by a long-standing culture of tax evasion, which is often referred to in the press as the country’s ‘national sport’. Recent efforts from the governing Syriza to clamp down on this have included the mandatory installation of Point of Sale (POS) terminals across certain industries.

Between 2014 and 2016, the Greek profit sector recorded subdued value growth at a CAGR of 0.6%. The foodservice profit sector has, to a degree, evaded the steep decline experienced in other industries, due to its links to the reliably robust tourism industry. Similarly, the foodservice market enjoys somewhat inelastic demand, as Greeks remain resilient and continue to partake in regular out-of-home meal occasions.

In 2016, Greece’s QSR market was valued at approximately EUR€ 1.5 Billion, posting growth at a CAGR of 0.7% since 2014. While the global QSR market has been widely touted as ‘recession proof’, this hasn’t proved the case in Greece. Soaring unemployment and plummeting levels of disposable income have become so severe that many consumers are neglecting to ‘trade down’ meal solutions, instead opting to ‘trade out’ of out-of-home foodservices completely.

Valued at approximately EUR€ 2.8 Billion in 2016, the FSR market represents the second largest foodservice channel by revenue, accounting for 21.8% of overall profit sector revenue. Although value in the channel rose at a relatively strong CAGR of 0.7% between 2014 and 2016, this can be mostly attributed to Greece’s reliably stable tourism industry.

In 2016, Greece’s coffee and tea shop market was valued at EUR€ 386 million, posting growth at a CAGR of 0.3% since 2014. Among surveyed foodservice consumers, 63% visited a coffee or tea shop in the previous week, highlighting the relatively inelastic nature of demand in the market. For many, socializing over a Frappe or a traditional bitter coffee remains a daily ritual, despite Greece’s turbulent economic climate.

The report “Greece – The Future of Foodservice to 2021” provides extensive insight and analysis of the Greek Foodservice market over the next five years (2016-2021) and acts as a vital point of reference for operators or suppliers.

In particular, this report provides the following analysis –
– Overview of the Greek macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on Romania’s foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
– Growth Dynamics: In-depth data and forecasts of key channels (QSR, FSR and Coffee & Tea Shops) within Greece’s foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
– Customer Segmentation: Identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Greek population.
– Key Players: Overview of market leaders within the three major channels including business descriptions and number of outlets.

Companies mentioned in this report: Foodservice, Greece, Greek, QSR, quick, full, service, restaurant, FSR, coffee shops, growth, over, saturation, home, delivery, consumers, spending, tourism, operational, costs, austerity.

Scope

– Sustained high levels of youth unemployment has resulted in an exodus of QSR operators’ key target audience, forcing them to broaden their appeal to lucrative family segments.
– A developing nationalistic sentiment has benefited domestic brands, as Greek consumers look to support operators that ‘give back’ to the local economy.
– Extreme caution among consumers has stalled product innovation, with little demand for experimental food offerings. 46% of surveyed Greeks earn an annual household income of EUR€ 8,999.

Reasons to buy

– Specific forecasts of the foodservice market over the next five years (2016-2021) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
– Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, Coffee & Tea Shops) will allow readers understand the wants and needs of their target demographics.
– Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within the Greek foodservice market.

Filed in: Food & Beverage, Food Service
Publisher : GlobalData
More Reports
Title Price Buy Now

FMCG Industry Business Confidence Report H1 2018

FMCG Industry Business Confidence Report H1 2018 Summary GlobalData's "FMCG Industry Business Confidence Report H1 2018", examines executives' opinion about the business environment during H1 2018. It also highlights existing economic conditions, supplier price variations, sales performance, industry and company growth outlook, spending patterns, and key priorities. Additionally, the report provides information categorized by region. The existing economic environment is stable for the FMCG industry during H1 2018 (February 2018-July 2018). Globally, 40% of respondents indicate a stable economic state in H1 2018; while 46% highlight that the prevailing economic conditions are favorable for the FMCG industry. Increasing implementation of digitalization techniques along the procurement......
$1950

ForeSights: Self-Serve Alcoholic Beverage Dispensing Technology – Technology that turns the consumer into a bartender

ForeSights: Self-Serve Alcoholic Beverage Dispensing Technology - Technology that turns the consumer into a bartender Summary Self-service alcoholic beverage technology frees the consumer from having to wait for beverage service in a crowded bar, restaurant, or other hospitality venue. Self-serve systems typically use touchscreen and radio-frequency identity (RFID) technology to enable self-service of alcoholic beverages like beer, wine, and mixed drinks. Self-serve alcoholic beverage technology combines the traditional tap system for dispensing beer and other alcoholic beverages with computer technology that tracks and controls how much beverage is dispensed so consumers can serve themselves. Scope - Because alcoholic beverages are age-restricted in most world markets, service......
$495

Baby Nutrition Insights: Issue 34

Baby Nutrition Insights: Issue 34 Summary "Baby Nutrition Insights: Issue 34", is an analytical report by GlobalData which provides extensive and highly detailed information on the key markets in the Baby Food industry. This quarterly issue report provides a review of news and analysis for the infant nutrition industry, covering the October-December 2017 period. Market News includes: Lactalis has been hit by a salmonella outbreak at its Craon plant leading to a worldwide recall affecting 83 countries; Nestlé and Mead Johnson report growth in Mexico; in the US, Plum, Sprout and Fresh Bellies have launched innovative meals ranges; between October and December the Chinese FDA had approved 18 batches of infant formula brands, and we list them all; Danone has established a strategic reg......
$1400

Top Growth Opportunities: Wine in Singapore

Top Growth Opportunities: Wine in Singapore Summary "Top Growth Opportunities: Wine in Singapore", provides recommended actions and detailed analysis of how to target the best growth opportunities for wine producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of wine market in Singapore through GlobalData's detailed and robust data, expert insight, and case studies. GlobalData's Top Growth Opportunity reports use a risk versus reward opportunity model to identify the best growth markets for wine producers. Through this in-depth study of market and category dynamics, readers are able to identify key opportunities, and what they need to do in order to target them. Singapore's economy grew by 5.2% in Q3 2017, the fas......
$2995

Top Growth Opportunities: Wine in Malaysia

Top Growth Opportunities: Wine in Malaysia Summary "Top Growth Opportunities: Wine in Malaysia", provides an overview of the wine market, analyzing market data, demographic consumption patterns within the category, and the key consumer trends driving consumption. GlobalData's proprietary Risk vs Reward Opportunity model pinpoints the best growth opportunities for wine producers, suppliers and retailers by combining robust, granular data and expert insight. The report uses this framework to identify the best opportunities, analyze white spaces in the market, and outline new product development that will effectively target the most pertinent consumer need states. These are combined to offer strategic recommendations to capitalize on evolving consumer landscapes. This provides recommen......
$2995

Top Growth Opportunities: Wine in Poland

Top Growth Opportunities: Wine in Poland Summary "Top Growth Opportunities: Wine in Poland", provides recommended actions and detailed analysis of how to target the best growth opportunities for wine producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of wine market in Poland through GlobalData's detailed and robust data, expert insight, and case studies. GlobalData's Top Growth Opportunity reports use a risk versus reward opportunity model to identify the best growth markets for wine producers. Through this in-depth study of market and category dynamics, readers are able to identify key opportunities, and what they need to do in order to target them. Poland's is the sixth-largest economy in the EU and one o......
$2995

Top Growth Opportunities: Wine in South Korea

Top Growth Opportunities: Wine in South Korea Summary "Top Growth Opportunities: Wine in South Korea", provides an overview of the Wine market, analyzing market data, demographic consumption patterns within the category, and the key consumer trends driving consumption. GlobalData's proprietary Risk vs Reward Opportunity model pinpoints the best growth opportunities for Wine producers, suppliers and retailers by combining robust, granular data and expert insight. The report uses this framework to identify the best opportunities, analyze white spaces in the market, and outline new product development that will effectively target the most pertinent consumer need states. These are combined to offer strategic recommendations to capitalize on evolving consumer landscapes. This report pr......
$2995

Top Growth Opportunities: Wine in the US

Top Growth Opportunities: Wine in the US Summary "Top Growth Opportunities: Wine in the US", provides an overview of the Wine market, analyzing market data, demographic consumption patterns within the category, and the key consumer trends driving consumption. The report highlights top growth opportunities for Wine market in the US and outlines new product development that effectively targets the most pertinent consumer need states, and offers strategic recommendations to capitalize on evolving consumer landscapes. This report identifies the key demographic groups driving consumption, and what motivates their consumption. When combined with an in-depth study of market and category dynamics, readers are able to identify key opportunities, and what they need to do in order to target ......
$2995

Hot Tea (Hot Drinks) Market in Argentina – Outlook to 2021: Market Size, Growth and Forecast Analytics

Hot Tea (Hot Drinks) Market in Argentina - Outlook to 2021: Market Size, Growth and Forecast Analytics Summary Hot Tea (Hot Drinks) Market in Argentina - Outlook to 2021: Market Size, Growth and Forecast Analytics is a broad level market review of Hot Tea market in Argentina. Tea is an aromatic beverage commonly prepared by pouring hot or boiling water over cured leaves of the tea plant, Camellia sinensis. Tea - covers "true" teas (i.e. those based on the leaves of the Camellia sinensis plant). In practice this means Black Teas, Green Teas, and Flavored and Scented teas (such as jasmine tea, earl grey tea or teas flavoured with blends of fruit, spices or herbs). Also includes infusions based on fruits, flowers and herbs and blends of real tea with fruits, herbs and also other tea ......
$500

Dressings (Seasonings, Dressings & Sauces) Market in Greece – Outlook to 2021: Market Size, Growth and Forecast Analytics

Dressings (Seasonings, Dressings & Sauces) Market in Greece - Outlook to 2021: Market Size, Growth and Forecast Analytics Summary Dressings (Seasonings, Dressings & Sauces) Market in Greece - Outlook to 2021: Market Size, Growth and Forecast Analytics is a broad level market review of Dressings market in Greece. Flavourful savory dressing served as accompaniment to food and salads. Includes mayonnaise, cream-style dressings, vinegrette, tomato-based and other dressings. Dressings market in Greece registered a positive compound annual growth rate (CAGR) of 3.22% during the period 2011 to 2016 with a sales value of EUR 48.62 Million in 2016, an increase of 3.37% over 2015. The research handbook provides up-to-date market size data for period 2011-2016 and illustrative forecast to......
$750